| NewJersey                                                     | 22-2582847                          |
|---------------------------------------------------------------|-------------------------------------|
| (State orother jurisdiction of incorporation or organization) | (I.R.S.Employer Identification No.) |
| 1395 New YorkAvenue, Huntington Station, NY                   | 11746                               |
| (Address ofprincipal executive offices)                       | (ZipCode)                           |

| Common Stock Bid  | High | Low  |
|-------------------|------|------|
| Three monthsended |      |      |
| April 30,2001     | .048 | .025 |
| July 31,2001      | .035 | .025 |
| October 31,2001   | .038 | .024 |
| January 31,2002   | .068 | .023 |
| April 30,2002     |      |      |
| July 31,2002      | .035 | .020 |
| October 31,2002   | .025 | .015 |
| January 31,2003   | .017 | .015 |

|  | Fiscal YearEnded January 31 |
|--|-----------------------------|

|                                                           | 1999    | 2000    | 2001     | 2002    | 2003    |
|-----------------------------------------------------------|---------|---------|----------|---------|---------|
| Operating revenues                                        | -       | -       | -        | -       | -       |
| Income (loss) from continuing operations                  | (2,218) | (4,014) | (22,061) | (7,360) | (7,397) |
| Income (loss) from continuing operations per common share | -       | -       | -        | -       | -       |
| Total assets                                              | 10,498  | 6,634   | 2,023    | 4,255   | 1,566   |
| Long-term obligations and redeemable preferred stock      | -       | -       | -        | -       | -       |
| Cash dividends declared per common share                  | -       | -       | -        | -       | -       |

# **INDEPENDENT AUDITOR’SREPORT**

| Cash in Bank **Total Assets** | **2003**$          1,566 **$           1,566** | **2002**$          4,254**$         4,254** |
|---------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------|

| **Liabilities:**Accrued ExpensesTotal Current LiabilitiesLoans Payable – Stockholder  **Total Liabilities****Stockholders’ Equity:** Capital Stocks Paid in Capital Retained Earnings / (Deficit)**Total Stockholders’ Equity****Total Liabilities and Stockholders’ Equity** | $             500**$            500**$        30,000**$       30,500**$   7,408,9101,400   (7,439,244)**$    (28,934)****$         1,566** | $             791**$            791**$        25,000**$       25,791**$   7,408,9101,400   (7,431,847)**$    (21,537)****$         4,254** |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                        | 2003         | 2002         |
|----------------------------------------|--------------|--------------|
| Revenue:                               |              |              |
| Interest Income                        | $-           | $-           |
| TotalRevenues                          | -            | $-           |
|                                        |              |              |
| Expenses:                              |              |              |
| Administrative Expenses                | 6,847        | 7,106        |
| Taxes                                  | 550          | 254          |
| TotalExpenses                          | 7,397        | 7,360        |
| NetLoss                                | (7,397)      | (7,360)      |
| Retained Earnings at Beginning of Year | (7,431,847)  | (7,424,487)  |
| Retained Earnings at End of Year       | $(7,439,244) | $(7,431,847) |

| **Cash flows from operating activities:**  Net Income**Cash flows from financing activities:**    Maintaining the Corporate Entity  Accrued Expenses  Loans Payable - StockholderNet cash provided by (used in) financing activities**Increase (Decrease) in Cash**Cash – Beginning of Period**Cash – End of Period** | **2003**$            -0-**$           -0-**$     (7,397)(291)          5,000**$    (2,688)****$    (2,688)**$        4,254**$       1,566 ** | **2002**$          -0-**$         -0-**$  (7,360)591      9,000**$       2,231****$       2,231**$        2,023**$       4,254** |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10,000,000 Common Stock issued and outstandingPaid in CapitalRetained Earnings at the beginning of the yearNet Income/(Loss)Retained Earnings at the end of the year**Total Stockholders’ Equity** | **2003**$    7,408,910$          1,400$ (7,431,847)         (7,397)$ (7,439,244)**$    (28,934)** | **2002**$    7,408,910$          1,400$ (7,424,487)         (7,360)$ (7,431,847)**$    (21,537)** |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Name                  | Age | Position                                                |
|-----------------------|-----|---------------------------------------------------------|
| Carl Lanzisera        | 64  | Chairman of the Board, President, Treasurer andDirector |
| Walter J. Hinchcliffe | 71  | Director                                                |
| Carrie Niemiera       | 41  | Secretary and Director                                  |
| Harvey Kash           | 69  | Director                                                |

| Name and Address of Beneficial Owner (1)                           | Shares Beneficially Owned |
|--------------------------------------------------------------------|---------------------------|
|                                                                    | Number                    | Percent |
| Carl Lanzisera (2)                                                 | 6,976,593                 | 64.0% |
| Walter J. Hinchcliffe (3)                                          | 800,000                   | 7.8% |
| Carrie Niemiera (4)                                                | 600,000                   | 5.8% |
| Harvey Kash (5)                                                    | 600,000                   | 5.8% |
| All current directors and executive officers as a group (4persons) | 8,976,593                 | 76.1% |

| Signature                                                                                                                                                                                                                                                                                                    | Title                                         | Date           |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------|----------------|
| /s/ Carl Lanzisera                  Carl Lanzisera                                                                                                                                                                 | Chairman of the Board, Treasurer and Director | April 28, 2003 |
|                                                Walter Hinchcliffe | President and Director                        | April 28, 2003 |
| /s/ Harvey Kash                    Harvey Kash                                                                                                                                                           | Director                                      | April 28, 2003 |
| /s/ CarrieNiemiera                Carrie Niemiera                                                                                                                                                                            | Secretary and Director                        | April 28, 2003 |

| Date: April 28, 2003 | /s/ CarlLanzisera            |
|----------------------|-------------------------------------------------------------------------------------|
|                      | Carl Lanzisera, Chief Executive Officer and Chief FinancialOfficer                  |